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Soft UK Services PMI pressures: *RES....>

CABLE TECHS
CABLE TECHS: Soft UK Services PMI pressures:
*RES 4: 1.2784 High Jun 25 and key trigger for bulls
*RES 3: 1.2717/35 High Jul 1 / High Jun 28
*RES 2: 1.2654/83 100-hma/200-hma
*RES 1: 1.2600/06 Intraday high/high Jun 17
*PRICE: 1.2563 @ 04:08 GMT July 3
*SUP 1: 1.2557 Intraday low
*SUP 2: 1.2543/39 Low Jun 19/Lower 2% Bollinger Band
*SUP 3: 1.2522 Former trendline resistance, now support
*SUP 4: 1.2506 Low Jun 18
Cable remains under pressure following the release of soft UK Services PMI data
with near-term focus on the Jun 19 low currently intersecting at 1.2543. The
current sell-off has exposed key support at 1.2506, the Jun 18 low. A break of
this level would confirm a bearish resumption of the trend and also negate the
recent bullish signal marked by the trendline break on Jun 20. On the upside,
initial resistance is seen at the 1.2654/83 area.

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